JPMorgan Chase CEO Jamie Dimon on Friday issued another warning about inflation despite recent signs of easing in price pressures.
"There has been some progress bringing inflation down, but there are still multiple inflationary forces in front of us: large fiscal deficits, infrastructure needs, restructuring of trade and remilitarization of the world," Dimon said in a statement along with the bank'sthe monthly inflation rate dipped in June
for the first time in more than four years, which fueled bets that the Federal Reserve could cut rates soon., a broad measure of costs for goods and services across the U.S. economy, declined 0.1% in June from May, putting the 12-month rate at 3%, around its lowest level in more than three years.that holding interest rates too high for too long could jeopardize economic growth, teasing that rate reductions could be on the horizon as long as inflation continues to show progress.
Dimon joined many economists in sounding the alarm on the U.S.' burgeoning debt and deficits. The federal government has so far spent $855 billion more than it has collected in the 2024 fiscal year. For fiscal 2023, the government's deficit spending came in at $1.7 trillion.Warren Buffett on his unwavering faith in the country — 'Never bet against America.'
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